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tv   Cavuto  FOX Business  July 4, 2013 11:00pm-12:01am EDT

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whether wee should continue this effort. what was one that was so bad that i refused torite it down. of all my interviews with bill gates, the one you're abou% to see is most controversial because he says a lot of the good we do as a country is threatened by paralyzed washington that will do no good for this country. the primary target, foreign aid. the other target, people who nt to block it. house of republicans who criticized this thequivalent of good money after bad. today, gates firing back. >> it had gold for example
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keeping friends in the cold war. sending money to people who ar on our side versus their side. that is what it was about. now it has become very metric. can you literallyave lives for well under 1% of what we spend to save lives here. by saving those lives you avoid the population growth and instability that leads to huge national security issues, countries like nigeria, yemen. if we let them triple in population, we are going to have huge cost and instability. humanitarian argument really point to this as the more clear parts of the entire budget. neil: so you would draw a line between that kind of aid in the money recently committed,
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250 million or so to the muslim brotherhood in egypt. characterizing we don't know that is the case, what uses it will go to. >> once you get up into countries that are little better off, the complexities of how do they view their relationshiin the u.s., so entangled with previous regime that there is a counter reaction to that, those areas are not expert in. what we're focused on, what we have chosen to take the money i have, the money warren buffett has given, to work in the same kind of global health area. vaccines for children, the science part of that and the delivery part of that, wsay it is so impactful, so wonderful we will take our money and join in on polio eradication and malaria
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medication and be a partner with government in some unbelievable programs i can see on a regular basis. neil: your money appears to be impactful, your foundation efforts seem to be impactful on no small measure because you and melinda. the u.s. track record on this is dicey, and even more globally efforts after disasters calls into question whether money ever gets to the right recipients, the haiti earthquakes some years back use as a sample. i'm sure you are familiar 2 billion raised by governments and private enterprise and concerts and t like. unless i missed something, it is disastrous and right with poverty and famine and abuse as it ever was. that is what worries me. so you mention it as you did
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today, the number of children dying every year has gone from 20 million to fewe than 8 million. give me examples were that is not the case. >> wait a minute, you shod have gone to haiti before the earthquake. neil: i did. >> haiti was a tough place before the earthquake. a lot of that money didn't get spent, a lot of it did get spent to restore things back to that situation, and so there you are making up for a huge setback. in terms of health, where as you get families to be more healthy, they choose to have less children so the population owth goes down. my money that goes into aid is the same pot, a fairly small percentage.
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the money from the foundation that goes after vaccines, same thing. itent from being a tiny part of the budget to over half now, malaria, neglected diseases, and that half which we work in, that i will vouch for completely because looking at the numbers all the time. neil: very smart folks, they would right away give it to you and ght away through your foundation because you do get a lot of bang for the buck. warren buffett a fan of higher taxes on the upper income and the government doing more spending, when he had his brothers, he chose to commit whatever money he is going to have before he goes to you and after he goes to you and the foundation, not the u.s.
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government. what does that tell you? >> whave the private sector that is the biggest and is phenomenal. anything you can do for the diseases of the rich, the needs of people, it is fantastic. government comes in and helping poor countries. philanthropy is only a few percent as big as ther of those sectors, but tends to be more innovative, more willing to take science, new delivery programs. there is a couple entry rule, so often we are taking our time talking with the government about what we know and where we have a common view. so i'm a biggest fan of philanthropy because it is like venture capitalist spendi. sometimes you take on things li trying g to get teachers to have more feedback and raise the
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average quality. programs may or may not succeed. it is not the typical thing a government might do. i like all three sectors in an appropriate role. i'm trying to make sure warrants money is well spent. that is my full-time job now. neil: i found it interesting advocate was urged the government to do more and believe the rich should pay more, when he had his brothers choice ofutting more money to the government or you, he chose you and melinda >> that is true. we need to fund whatever activities the government should do, and we have the cap and how to close the gap. we would like to encourage more philanthropy because my view is it is fun and has a good impact. each one of these sectors have a
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leg up and do better every day. for the government, how do you balance the budget is one of those big challenges and everybody has opinions about that one. neil: indeed. if i can go back to philanthropy itself, there are a lot of worries, a few charitable foundations myself, nothing like you, but the one worry we have had is whether w we're going to get an impact from the rich pay more taxes, contributions, do you worry about that? >> philanthropy is very important, the u.s. is very unique not only the skill of philanthropy, but it is not just the richest who give to philanthropy, the non-rich are so generous in this country. if you look at it
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state-by-state, tossing a 5% of income being given like 2% elsewhere. it is a broad, broad movement, certainly there could be some cutbacks because it is deductible, it cut both ways. you don't want to run tax rates unnessarily. you want a balance between if these are important programs, you have to pay for them at some point. i think we're looking at a higher deficit thawe would like in the long run. there's a very important argument about given a shakiness of the economy, how do you phase in that balance. in a sense the deficit is a stimulus to the economy and do
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we still need that level of stimulus. the medical costs and the idea would beot to argue about the citizen pays for the government pays, but how do you get those increases to be more in line with the growth of the economy, which they haven't been and it is good fo the government projes those increases, are there things that could be done to get more innovation on cost reduction? there i think we haven't seen enough thinking, certainly what i see about medical stocks in poor countries is suggestive it is in the efficiency side would be ideal because it is not a zero-sum between citizen vsus government. neil: do ever and vision going back to microsoft are more active day-to-day rollcall? or is it enough to keep you jazz and going for the rest of your
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life? >> i certainly miss being full-time on that stuff, i get to defend spend 15% of my time, but my dedication is to the foundation. polio eradication. with the partne, we will get that one done and we can focus onalaria, tuberculosis, get the death rate down from the 7 million even down to 3 million over the next 15 years. neil: john hudson senior, and i think warren buffett has said their goal is to die broke. they want to give it all away. i wonder with your three children, have you told them that is your goal? if they're looking at a huge inheritance, it and come in? >> we have talked to the kids about the vast majority of the wealth is going to the foundation. all of his money spent within 10 years after his death, the money
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will be in foundations, but even there after, our foundation and his children's foundations. our foundation is set up so -@after melinda and i are gone, our foundation will spend the money within 20 years. our kids are excited about the foundation work. they will get a great college education and some support,o they are very, very lucky. neil: do any of them have to worry? >> not at all. if you get to gigantic levels giving a kid hundreds of millions or billions of dollars, it is not good for the kids or society. neil: from the country's richest man to the ceo who is pretty rich in his own right. on why making lots of money shouldn't be a sin in this country. and then, former "the view"
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neil: after the bailout, aig ceo who is speaking out. saying former ceo hank greenbe greenberg's wrong when he says the county would have been just fine if aig had just gone der. >> i go back to the crisis and most things i agree with about, most things we see eye to eye on. after i decided to take this j job, he was comfortable with what i was going to do. a tremendous amount of insight. he believes aig could have failed and not too big to fail. i believe he is absolutely wrong.
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the fact is the road was in crisis. aig, if it was allowed to use bankruptcy to shield itself during this crisis may have been better for shareholders at that time. they havbeen better to accept it. he doesn't see that. he doesn't realize if aig went under, and he above anyone else understands how big aig is, it is huge at that time, it is still huge and it touched everything. the regulators from every country, every state would begin to seize the property and you would have chaos and never putting together again. you would have no financial system, we don't know, but it doesn't justify h minds the weight of the property, but the board at the time agreed, and you n say it was a terrible deal, and it is, they were taken
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advantage of and they may have been, but one has to make a judgment, so what. neil: would the turnaround at aig, you fought with the government, a couple of key issues, i think your argument at the time was that it was all about marginally retaining good talent and by theovernment standards this would be impossible. you got your way, now i was thinking a few recently when i heard what they are concocting in switzerla, now seems to be going the other way. once in the missing top executive pay. policing ceos salaries, what you think of that? >> we have to deal with the reality there is a cklash continuing related to pay. what is most important, it is
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unfortunate for switzerland, they changed the law, shareholders will, make the vote and t decision they don't realize many of the largest institutions the shareholders are americans. >we're giving mutual funds in america the vote, and they will not get the results expected. we treat people appropriately, it is not an issue. neil: it always comes back to what is fair, what is righ there are te of millions of dollars, hundreds of millions of dollars, egregious, courageous, what do you say? >> if you love your sports team d pay tens of millions of dollars to play baseball and basketball and have fun, it is okay for team is winning. when your team is losing they
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want to get rid of them and they are paid too much money. neil: how are you feeling? >> i am unlucky to have cancer, happy i dispatch in the therapy. great doctors, they have been able to keep me going. my cancer is somewhat less than what istarted. they can't detect it right now. i willot let you decide when i will die. neil: you continue doing what you're doing in the middle of treatment, details of which not to relay, but at a time said is this another steveobs situation? he sicker than we think? >> it was horrible. some of the articles that me out, one in particular froo the "wall street journal," it was
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tough for my family because it was basically saying you've got cancer, it will be awkward, why put people in that position? i started something, i wanted to see it to a good spot. we had a quite closed with the federal government, we were struck through that transacon. listen, you have to start everyday until you can't. i was loving what i was going, we spent a good amount of time together, so wanted to see it get completed. neil: i don't mean to get too personal, did anybody say you might die? >> yes. i was given nine months to a year to live. i knew i had until may, had to work with the board on succession, i needed and
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appropriate exit so this could continue. the last thing i needed was for my family and children and the people i love to be able to say what a shame, he got that close andidn't get it done, i woer if he was right in the beginning. we are in a great place, the company will make it, the ople will continue to have their careers, but it was about all these people come over 3000 people in america alone. neil: being self absorbed, i would start thinking more about me. thk of a diagnosis for i am told might have nine to 12 months to live. obviously it is not that now. has your family said we know you are committed to making u is right, but we are your family. >> they said we love you, this
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is about doing the right thing. neil: what is the diagnosis now? >> i'm doing well, enjoy life until somebody tells you the starting to affect you again. they don't know, they don't kw enough. i live every day and enjoy myself and have a lot of fun, smell the roses. my grandmother used to say to us give me my roses when i can smell them. so i'm ejoying giving roses and spelling them and having a wonderful time.
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neil: facebook expanding, yahoo
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profit surging, both have women leaving. both receiving big time thank you's and big-time payback addition to go with it. breaking and $6 million for her first six months of work. former "the view" costar star jones represent women trying to get where they are. sinca lot of them have a long ways t go. >> we have many issues we are facing with the membership of any pow. we run sort of the gamut, we have women run the corporations hallway to women starting new businesses out of their homes and everything in between. doctors, lawyers, insurance salespeople, people with manicures. neil: what keeps altogether? >> the fact we are pfessional women looking the opportunity to network with each other.
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neil: do find it encouraging? >> it is absolutely encouraging. having the oortunity to talk to both of them in theast two months, i was a big fan. their experience is not everyone's experience. i was thinking about the whole concept of leaning in as a cheryl samberg calls it. depending on who you are, you can'pick and choose when you need to lead in and if you want to lean in. as a minority professional women i feel lik i have leaned in from the time i started, 18 ars old to the point where i am almost bend over. neil: do you think the days of them have a tough go of , those days are behind us? >> those days are not behind us. when the wom of opportity is op, there are more women standing outside ready to look,
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but the door of opportunity is not always open. giving resources and tools so women can get the necessary undation under them to get into the workforce. neil: do you thi we should have quotas? >> in terms of specific number neil: at a certain number of african-american women. >> i actually think it is limiting. what i would like to do is force people to consider. the biggest issue i diversity anemployment with gender, race, religion, anythin is who is at the table making the decision. so if you don't have diversity at the table, they will not bring in the binders of women that would need the opportunity to discover something that you might not have. mitt romney thks of it that
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way, i guarantee you he doesn't think of it th wayaymore. neil: what do you think of the job the president is doing trying to have the cap next reflect some of the things you say. >> he got some heat because of the cap and members. was i disappointed when secretary clinton was no longer there and secretary ricice, ambassador rice did not get that job? yes. i was disappointed from the woman's perspective and from a professional thinking woman's perspectivv i thought she was a great candidate. however, i looked at what the president has done for working women, i know we bring this up a lot but e fact the first bill he ever signed was the fair pay act says to me this is who this man is and he has consistently favored that act. neil: despite some of the pay packages, there is still a gap there.
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should the government just stay out? the government cannot force this issue, the free market will decide this. >> the free market has to be pushed a little bit. this is your area of expertise. neil: you are good at business. >> when business is not doing what they need to, the law has to poke at it a bit. neil: when you look at the tv landscape, the personalities who dominate it, it is very opinioted to me, in your face, always screaming. we try not to do that here, but you know what i mean. >> it is not really my cup of tea. television that is more sensational and less informative might be entertaining to some people but i don't think it elevates the level of discussion.
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i would much prefer to be in a situation where we can disagree without being disagreeable. it is extremely tough, the whole reality has in a lot of ways made women really look bad. african-american women, latina women, young womenolder women, women in general. what happens is it shows the worst spac days opinion of whata woman does when she is put into a group, she will be in a catfight, use foul language, when it has always been my experience. in a professional work environment you're never permitted to act that way. i cannot say to you that on mber of my organization could go to work and behave that way. not oneember.
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there's only one job that allows you to act like an idiot, it is called reality television. you cannot act like an idiot at the ups, if you challenge her colleagues andou jump across the counter, guess what, you will be fired. that is the whole point. neil: it looks like everybody wants into the market so why are so many rich guys avoiding them like the plague? scott mcnealy is
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neil: here is how bad things are getting washington. scott mcnealy is warning people are afraid to invest. >> they're usuallyive categories of areas that are scary and folks who normally invest in u.s. equities. number one, the debt is quantitative easing, qe2 is turning into the cap next, and such. neil: maybe they're concerned about that as well, or no? >> that means they know inflation is coming like a freight train andnything nominated in u.s. doars are getting devalued. a tax in every asset and income stre in u.s. dollars. by the way, call that trickle up poverty. we are basically destroying the buying power and unfortunately it is very regressive because it
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does not destroy my lifestyle but it destroys the bottom half, the middle class, their lifestyle is getting destroyed. my parents lifestyle and their nest egg is getting destroyed by the quantitative easing, it is a disaster and smart investors are saying the race to t bottom, currency race to the bottom is not a place to be. neil: i know you look at what is going on in the market aggregate, billionaires, successful guys, they seemo be saying i am not getting trapped in this thing. are they right? >> it is a bubble. body wants to get caught in a bubble when it pops. neil: play that out for me, what do you see happening? what is going on in our country? >> i think there is an enormous amount of bad policy. arguing about raising minimum wage. that is the exact wrong thing to go do, that is driving more
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trickle up poverty, more employment, and the economic war of the u.s. versus other countries when people are t of work is just a disaster. obamacare driving underemployment, outsourcing that sort of thing, this whole concept of are we a rediribution society or are we going to take care of the safety net? or 50 million foodstamp people. and a real battle on capitalism versus socialism. i think big-time investors would rather invest in societies movi toward capitalism. we are on a freight train hurtling towardthe gdp in the public sector and that is not what i would call a strong capitali society. that drives this third issue that has to scare anybody who takes a look at it, huge chunks of the economy, housing and
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assurance being taken over and moved out of the private sector into what i call the government sector. the government sector everybody knows operates inefficiently, ineffectively and very corruptly. leading me to another issue. the u.s. economy and governme used to be the model a flock of correction, but when you look at what we have with government sector unions, that is inherently corrupt. porkbarrel spending, the definition of corrupt mess, they call it crony capitasm. i call it crony government listen. you look at things like solyndra, the poster child for that. i think the leadership in this country, no disrespect, love my country, i am very patriotic and invested american but the leadership is just not something i respect. the divisiveness, the rhetoric,
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the noise, all th the rest of i. i believe in small government, personal responsibility and lack of victimization. we don't need half of the country being handled by the safety net which is basically not a safety net, itis a velcro, flypaper. we need a trampoline for the bottom one, two,%. not a velcro dependency net for more than half the country. i look at all of that, i am no different than any other trying to invest. u.s. equities moving the direction we are moving as a country is not a place to be. there are better currencies and better geographies to go invest in. neil: your taxes are going up, spending going up, instead of complaining, try yukking it up. on why if you don't laugh at
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washington, you will just cry over washington.
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neil: nobody's getting along, nothing is getting done and spending won't stop. washington is so funny especially when it is not trying to be funny. >> i think major problem is we have to put people into washington who are more interested in doing something with the people then getting reelected. i have an ideathat speeding car drivers have patches all over their clothes of all the sponsors, how about if we make the people in congress where patches of the lobbyists who own them. so we know. neil: at would be a lot of
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patches. >> so we know no wonder he voted that way. rather than walk on, work on the future war, we should spend our time and intelligce on how to avoid getting involved in other people'swars. neil: were very astute comedic career on it, do you look at this each side playing the fear the democrats who say you are going to run the program off a cliff, rational people have to see through that and say calm down. speak othe there always in a stf panic. my father every four years he went out and voted for the president and wrrte in his name. i'm serious. i remember set i think i got it this time. i think people have got to
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realize, we're laughing at it right now, if you can't laugh at it, you have to stay calm because it will work out. neil: in other words each side seems to be quite curt time the growth in something with killing the program. whether it is defense or medicare, pick a program. rational people, even the ones who say no, this is not the case. >> we have to really check into it thoroughly. you take the whole gun issue, i think we should check the constitution and we should check our government. i believe the second amendment, there is a typo in there. we are allowed to bear arms. they saw t-shirts coming into the future.
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and nothing to do with guns. neil: something tells me they have not expected that. the good thing about a comic or somebody socially commentating, you realize how stupid you sound, and you realize you are not far apart on some of this, let's just solve this. but he is getting solved. >> you see what they have going for them, the citizens, they are too dumb to understand how dumb these people are being. it is like a peanut. americans lowered the bar getting things done. using the bar is going to get y lower? no, it is on the pavement.
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if you use common sense, they picked the things most dear to us. spinach, we're never going to have spinach and occoli. we're going to lose, babies will not be nutritious. what is that? neil: they play off of that stupidity and we can say anything. neil: if you don't do the american public said never underestimate intelligence of the americ people. neil: just as somebody who watches this scene talking hundreds of billions of dollars, spenending money we don't have n initiatives that have yet to pan out and then argue in the same breath as many have that we don't have a spending problem even though we're spending a trillion more than we have taken in, isn't that a tragic comedy right there? >> it is ludicrous.
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you don't spend more than you have, and you don't extend yourself a point were never going to be able to pay it off. they are lucky, we pass it onto our children and their grandchildren. our kids, now you look at video games, we can buy a shoelace because they have to pay this off, it keeps going and going and going until it hits a wall somewhere. you can't keep printing money. neil: both sidesove you to death, but why are they so okay with this? it is not a right or left issue, they are okay with the fact government is back ging out more stuff is okay, we like going back to this. >> i will tell you anything we can do right away. i thk as far as foreign aid is
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concerned, we don't give it to any countries consistently voted against us 70% of the time in the united nations. everything is a microcosm in the neighborhood. if you have a guy who hasn't paid you back, you don't give him more money. you don't get might these people who are always knocking us and voting against us. let them just go wherever they're going to go andt is very hot down there. neil: he your dad ran for president, are you? >> i wrote in for mike huckabee in the last election and i will tell you why. even i didn't think he had a chance, when he was asked would anybody in the world he could pick anyone to be his vice president, who would he choose? he said jesus christ.
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i thought god for bid something happens. neil: thank you. >> if you and i went out for drinks, today it is on me. got the hollywood money, and then i said to you it is great seeing you, i have been a guest onore talk shows that anybody in history television. that is what it means. neil: forget a perfect 10. the new numbers guys want is 780 and above. now men are looking to score, looking at ladies credit scores. this is greta. she works in quality control.
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neil: beauty doesn't matter as long as your finances aren't ugly. and new site is matching people based on a credit scores. and you are never going to believe whose profile wa pofilee stumbled upon. perfect credit score. and howard rosenkranz all rght, more on the tuba in a moment. do you tnk this is a difference? >> it is a huge difference. if you value your credit, you will not have a lot in common with somebody who is careless
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with theirs. how people treat their money tells you a lot of who they are. do they think lon long-term, are they trustworthy? i have certainly a score, it has to do with their credit score. this is a great idea. neil: i think you are hurting. you are free to open up. i guess this is a sign of our times that things are becoming a little me than skin deep. this is better than the sugar daddy website that people have now. at least you can look for somebody your own age, right? yes, the economy is hurting right now, to incomes are better than one and ts may be a little shallow but to incomes
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are better than one. neil: i do think incessantly about our society that before we get serious, everything but their bank statement. i want to see a credit score, how good you are with money and then we will talk. >> not unreasonab. we can all decide what is important in our life. it really isn't at the end of the day. you can set his music to the tuba. it wasn't based on what you have. >> you want to pick your mate based on what is critically important. >> what is important to jonathan hoen ithe credit report.
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>> this is about compatibility. you are not going to be happy long-term with somebody who is a fitness kick, it will t be compatible with yours. whether it is leisure or health, we seek people out who are compatible with us. neil: i will ask you this, jonathan, think about what you just said. you are basing our future mate on whether she has a good credit score because you think th says more about her than, i don't know, kindness, decency. >> i think it says a lot about them. people tend to respect themselves in my opinion. neil: you are not in love with her. if you are more obsessed with what she says about assets, she
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will be a pain in the asset to you. >> it is transitional. >> if yosaw donald trump in 1991, his crrdit score was not too great. neil: you would have missed a diamond in the rough, and there to warn yothey are all turning. >> it don't really think this is necessarily about compatibility. the fact of the matter is we are seeing a lotf things pop up including this sugar daddy website, sdent loans. neil: what about somebody who is loving and caring? >> i agree. people have the right to choose who they want to be with whether it is with money or not.
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shallow economy could be reflective of a shallow relationship. neil: stick around. we are finally witnessing it. the end o.
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>> absolutely fantastic. we will see you again. >> are you ready colonel? >> does america still have a true grit? space some why is taking a risk becoming illegal? and the that upsets the cowboy libertarian the idea you will retaliate can ban something is crazy. >> should this behavior be banned? it is time to toughen up this is it. >> these perdu engineers offended people because they are all white. is that offensive? at least some americans still have